Home insurance is a major part of the insurance industry, with various forms of home related protection offered to home owners all over the world. There are a number of popular forms of home insurance (Wohngebäudeversicherungen) on the market, with difference in terms of the coverage on offer and the price and structure of ongoing premiums.
In general, home insurance is designed to provide protection to home owners in the case of a variety of losses relating to their property. For example, a standard home insurance contract will combine protection for environmental damage, theft, window damage, and liability, as well as a variety of other protections. The actual level of coverage on offer is generally the most important indicator of premium prices, with more comprehensive contracts having steeper ongoing premium prices. When comparing home insurance policies, there are a number of comparison websites and services available to consumers.

In a basic multiple line home insurance policy, home owners will have access to coverage for both property and liability protection. However, the details of this protection can differ widely, so it is important to make sure you are getting the right policy for your individual needs. A great number of home insurance contracts list certain exclusions, such as floods, acts of war, or termites. However, in a detailed and comprehensive policy, it may be possible to receive protection for these sorts of events at a cost. Generally speaking, the more detailed the coverage you receive, the more expensive the price of ongoing premiums will be. Despite these many variations however, most home insurance policies can be split up into a few basic categories.

The most basic form of home protection fits under the category of a basic form home owner policy. This type of insurance covers 11 listed perils; fire or lightning, windstorm or hail, vandalism or malicious mischief, theft, damage from vehicles and aircraft, explosion riot or civil commotion, glass breakage, smoke, volcanic eruption, and personal liability. Exceptions to this kind of policy include floods and earthquakes, although they can be included in broad form policies. Broad form contracts will often list specific “named perils”, with other specialised forms of home insurance also available for renters and specific types of property.